NTPC Green Energy IPO Subscription Details on Day 2

21 Nov 2024 , 12:42 PM

The NTPC Green Energy IPO began on November 19, 2024, and bidding is currently ongoing on its second day, Thursday. Subscription will remain open from November 19 to November 22, 2024.

At the time of writing at 12:30 pm on November 21, 2024 on Day 2, the ₹10,000-crore IPO had witnessed an overall subscription of 0.82 times. The retail investor portion got subscribed 2.04 times, NII has subscribed 0.26 times. The subscription for the QIB segment stood at 0.73 times.

This IPO is a pure fresh equity issue, priced between ₹102 to ₹108 per share, and does not include an Offer-for-Sale (OFS) component. The company plans to allocate ₹7,500 crore from the IPO proceeds to repay or prepay loans of its subsidiary, NTPC Renewable Energy Ltd (NREL), and use the remainder for general corporate purposes.

NTPC Green Energy Ltd (NGEL), a Maharatna PSU and subsidiary of NTPC Ltd, focuses on renewable energy assets, including solar and wind power projects. The IPO is managed by IDBI Capital Markets & Securities, HDFC Bank, IIFL Capital Services, and Nuvama Wealth Management as book-running lead managers.